BidaskClub upgraded shares of First Midwest Bancorp (NASDAQ:FMBI) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of First Midwest Bancorp from a hold rating to a buy rating and set a $29.00 target price for the company in a report on Friday, January 12th. Piper Jaffray Companies restated a buy rating and issued a $29.00 target price on shares of First Midwest Bancorp in a report on Tuesday, January 9th. Sandler O’Neill set a $26.00 target price on shares of First Midwest Bancorp and gave the stock a hold rating in a report on Wednesday, January 3rd. Jefferies Group restated a buy rating and issued a $28.00 target price on shares of First Midwest Bancorp in a report on Friday, December 8th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $23.00 price objective on shares of First Midwest Bancorp in a report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $26.67.

Shares of First Midwest Bancorp (NASDAQ FMBI) opened at $24.49 on Friday. The stock has a market cap of $2,480.61, a PE ratio of 25.51, a PEG ratio of 2.00 and a beta of 1.18. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. First Midwest Bancorp has a twelve month low of $20.50 and a twelve month high of $26.48.

First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $154.24 million during the quarter, compared to the consensus estimate of $162.84 million. First Midwest Bancorp had a return on equity of 7.69% and a net margin of 14.59%. During the same quarter last year, the business posted $0.32 EPS. research analysts expect that First Midwest Bancorp will post 1.73 earnings per share for the current fiscal year.

In related news, Director Robert P. Omeara sold 50,000 shares of First Midwest Bancorp stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.69% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management Inc. lifted its holdings in First Midwest Bancorp by 9.6% during the 4th quarter. Kennedy Capital Management Inc. now owns 357,504 shares of the financial services provider’s stock valued at $8,584,000 after buying an additional 31,298 shares in the last quarter. Geode Capital Management LLC lifted its holdings in First Midwest Bancorp by 14.8% during the 4th quarter. Geode Capital Management LLC now owns 904,833 shares of the financial services provider’s stock valued at $21,725,000 after buying an additional 116,428 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in First Midwest Bancorp by 74.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,690,454 shares of the financial services provider’s stock valued at $64,598,000 after buying an additional 1,146,492 shares in the last quarter. State of Tennessee Treasury Department lifted its holdings in First Midwest Bancorp by 12.2% during the 4th quarter. State of Tennessee Treasury Department now owns 80,650 shares of the financial services provider’s stock valued at $1,936,000 after buying an additional 8,794 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in First Midwest Bancorp by 132.4% during the 4th quarter. Citadel Advisors LLC now owns 322,725 shares of the financial services provider’s stock valued at $7,748,000 after buying an additional 183,852 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

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First Midwest Bancorp Company Profile

First Midwest Bancorp, Inc is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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